Santumas Shareholdings plc - Interim Results

Wednesday, January 2nd, 2013

On 27 December, Santumas Shareholdings plc published its half-year results covering the six months ended 31 October 2012. During this period the Company’s financials were boosted by an unrealised gain of €296,814 in the value of financial assets reflecting the uplift in the local equity market. This contrasts with the downturn reported during the previous comparable six months ended 31 October 2011 which resulted in a €262,929 drop in the fair value of financial assets.

On the other hand, dividend and interest income dropped by 16.8% to €87,616 although this was primarily due to different timings of certain dividend payments.

Total expenses increased by 2% to €55,058 leading to a pre-tax profit figure of €329,372. After accounting for a tax expense of €25,189 (Oct 2011: €31,122), the profit for the period amounted to €304,183 compared to the loss of €242,567 registered in the six months ended 31 October 2011.

In the interim report, the Directors also gave an update on the Company’s property and financial assets portfolios. The Directors explained that no movement was registered in the Company’s property portfolio during the six months under review. Nonetheless, the Company continues to explore the local property market in search for suitable income yielding premises. With respect to the financial asset portfolio, the Company is cautiously seeking to expand its holdings of local equities which the Directors below to offer some real value. The balance sheet reveals a cash balance of €1.6 million as at 31 October 2012.

The net asset value as at 31 October 2012 stood at €3.96 per share which is significantly higher than the last traded price of Santumas Shareholding plc at €1.80.